Las Vegas Sands stock apparently pays for Mark Cuban’s NBA cashout

Miriam Adelson, Las Vegas Sands Corp.’s biggest shareholder, sold $2 billion in the company’s stock and will reportedly use the proceeds to buy a majority stake in the NBA’s Dallas Mavericks from Mark Cuban.

Las Vegas Sands LVS disclosed Tuesday afternoon that Adelson — the widow of company founder Shelden Adelson — sold roughly 10% of her stake in the company to use on a professional sports team, without stating a sport or location.

“We…

Master your money.

Subscribe to MarketWatch.

Get this article and all of MarketWatch.

Access from any device. Anywhere. Anytime.


Subscribe Now

Read more from source